Union Pacific reported Q1 2026 adjusted earnings per share of $2.93, surpassing analyst consensus of $2.86.
Revenue $6.22bn, up 3% YoY, freight revenue up 4% despite 1% carload decline.
Operating ratio improved 80 bps to 59.9%; freight car velocity rose 9% to 235 miles/day; terminal dwell fell 11% to 19.7 hrs.
Net income $1.7bn, up 5%; affirmed 2026 outlook of mid‑single‑digit EPS growth and $3.3bn capital plan.